Saskatoon real estate market review: Sept 8-14

Posted on September 15, 2014 by The Saskatoon Home Team

Last week in the Saskatoon real estate market we witnessed a flurry of activity in terms of sales volume and listing inventory increases. As last week came to a close, the Saskatoon MLS reported 103 firm sales with an average price of $344,055. Last year during the same week period there were 90 sales while the average price was roughly $10,000 higher.

Over the past month we have seen an average of 93 sales per week which is actually rather impressive for this time of year. Monthly sales volume (mid August – mid September) are up roughly 9% higher than 2013 when just 85 sales per week occurred in Saskatoon. Prices during this past month are up 3% (just over $10,000) from 2013 when comparing the average prices which is a healthy increase. Over the past month the average price was $348,675, while the average days on market shrunk to just 41 and the average selling price under asking was $7,878.

Just when agents predicted listing inventory to begin its seasonal decline, last week a whopping 240 new listings (151 single family, 75 condominiums) were posted to the Saskatoon real estate market. This bolstered the listing count to 1605 (996 single family, 480 condominiums). Last year there were only 815 single family homes and 415 condominiums on the market during this same week period.

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